When the latest and greatest vulnerability is announced, the media and PR frenzy can be dizzying. However, when the dust settles, how do we actually measure the risk represented by a given vulnerability. When pen testers find holes in an organization, is it really "ZOMG, you're SO 0WNED!" or is it something more manageable and controlled? When you're attempting to convince the boss of the necessity of the latest security technology, how do really rank the importance of the technology against the threats facing the organization.
Understanding risk can be tricky, especially in an industry that often works on gut feelings and values quantity over quality. But risk and risk management doesn't need to be complicated. With a few basic formulas and access to some simple models, understanding risk can be a straightforward process. This talk will discuss risk, why its important, and the poor job the hacker community has done when it comes to properly assessing risk. It will also touch on some existing risk assessment and management systems, as well as provide worked examples of real world vulnerabilities and systems and the risks they pose. Finally, this talk will examine some practical guidance on how you, as hackers, security researchers, and security practitioners can better measure risk in your day to day life